In a Decision Connors v. Connors, (an "Unreported Decision") >> the Court Held:
The Appellate Division affirmed the Trial Court decision to enforce the Mediation Memorandum of Understanding without 401 k gains distributed.
The Appellant Division rejected defendant's arguments that while the Mediation Memorandum of Understanding did not contain language entitling Wife to such gains and losses, both parties understood the 401(k) distribution was based on the formula in Marx v. Marx, 265 N.J. Super. 418. Trial court found the Mediation Memorandum of Understanding was clear and unambiguous, gave Wife a fixed sum of $170,000. The Mediation Memorandum of Understanding was clear and unambiguous and contained nothing to show Wife was entitled to credits or debts for any market fluctuation or the application of the Marx formula. Although the Chancery court in Marx established a formula for allocating the marital share of a deferred distribution pension, there was no necessity for the formula here because the parties stipulated in the MOU the specific amount of Wife's share.